Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
PulteGroup (PHM) reported FY2025 revenue of $17.3B, down 3.5% year-over-year, with net income falling 28.0% to $2.2B amid rising SG&A costs and a challenging housing market, though the balance sheet remained strong with minimal debt and growing cash.
Revenue
$17.31B
-3.54% YoY
EPS (Diluted)
$11.12
-24.30% YoY
Source: SEC XBRL
Pultegroup (PHM) reported FY2025 revenue of $17.31B, down 3.5% year over year. Operating cash flow was $1.87B, up 11.3% year over year.
Last 4 quarters: 2 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 2.48 | 2.39 | Beat +3.9% |
| Mar 2026 | 1.79 | 1.84 | Miss -2.8% |
| Dec 2025This filing | 2.56 | 2.84 | Miss -10.0% |
| Sep 2025 | 2.96 | 2.92 | Beat +1.4% |
Reported EPS of $2.56 versus the $2.84 analyst consensus — a -10.0% miss for Dec 2025.
Compiled by AI from this SEC filing
PHM's FY2025 revenue fell 3.5% to $17.31B from $17.95B in the prior year, reflecting headwinds in the homebuilding market including elevated mortgage rates and affordability pressures that weighed on home closings and/or average selling prices.
Source: 10-K Income Statement (XBRL Financial Data)
Net income dropped 28.0% to $2.22B from $3.08B, with net margin contracting to 12.8% from approximately 17.2% in the prior year, suggesting meaningful cost pressures and/or increased incentives to buyers that compressed profitability beyond the revenue decline alone.
Source: 10-K Income Statement (XBRL Financial Data)
SG&A expenses rose sharply by 19.1% to $1.57B from $1.32B, indicating increased overhead, sales incentives, or marketing spend even as revenues declined — a combination that significantly amplified the earnings decline relative to the top-line drop.
Source: 10-K Income Statement (XBRL Financial Data)
Despite earnings pressure, operating cash flow grew 11.3% to $1.87B, and cash & equivalents increased 22.8% to $1.98B. Long-term debt remains negligible at $43.9M against stockholders' equity of $13.0B, reflecting a conservatively financed business.
Source: 10-K Balance Sheet & Cash Flow Statement (XBRL Financial Data)
PHM returned approximately $1.38B to shareholders in FY2025 through $1.20B in share buybacks and $176.7M in dividends, demonstrating management's commitment to capital returns even during a period of earnings pressure.
Source: 10-K Cash Flow Statement (XBRL Financial Data)
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
PHM's revenue declined 3.5% in FY2025, reflecting the sensitivity of homebuilding demand to mortgage rate levels and consumer affordability. Sustained elevated interest rates could further suppress buyer demand, home closing volumes, and average selling prices, creating additional revenue headwinds.
Source: 10-K Income Statement (XBRL Financial Data)
SG&A expenses surged 19.1% in FY2025 even as revenues fell, contributing to a 28.0% decline in net income. If cost inflation in labor, materials, or sales incentives continues to outpace revenue recovery, profitability could remain under significant pressure.
Source: 10-K Income Statement (XBRL Financial Data)
Basic EPS fell 24.4% to $11.21 in FY2025, driven primarily by the earnings decline rather than share count expansion. However, if earnings do not recover, the $1.2B annual buyback program may not be sufficient to meaningfully offset EPS pressure from lower net income.
Source: 10-K Income Statement & Cash Flow Statement (XBRL Financial Data)
As a homebuilder, PHM carries significant land and housing inventory on its balance sheet. Total assets grew to $18.0B in FY2025, and in a prolonged housing downturn, inventory write-downs or slower asset turns could impair returns and strain liquidity.
Source: 10-K Balance Sheet (XBRL Financial Data)
PHM's business is entirely dependent on the U.S. residential housing market, leaving it exposed to regional economic downturns, changes in government housing policy, or demographic shifts that could reduce demand for new homes without diversification offsets.
Source: 10-K Financial Data (XBRL)
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 17.31 $B | 17.95 $B | -3.54% |
Net Income $B | 2.22 $B | 3.08 $B | -28.04% |
EPS (Basic) $ | 11.21 $ | 14.82 $ | -24.36% |
EPS (Diluted) $ | 11.12 $ | 14.69 $ | -24.30% |
SG&A Expense $B | 1.57 $B | 1.32 $B | +19.12% |
Answers draw on this SEC filing and the data on this page
In Q2 FY2026, PulteGroup reported a 9.6% YoY revenue decline to $3.98B and a 22.4% drop in net income to $472.0M, driven by an 8% decrease in closings and a 200-basis-point contraction in home sale gross margin to 25.0%, as the company continued to lean on sales incentives and price adjustments amid weaker affordability-driven demand while still increasing net new orders 6% and returning $681.2M to shareholders via buybacks in the first six months of the year.
PulteGroup reported a challenging Q1 FY2026 with revenue declining 12.4% YoY to $3.41B and net income falling 33.6% to $347.0M, though the company maintained solid cash generation and a strong balance sheet with $1.81B in cash.
Other companies in Homebuilding